Bus 644 Week 1 Analysis

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Midas Week 1 Assignment BUS 644 Midas This paper will address several issues that are caused in the business operational efficiencies and the various solutions to minimize those issues in business operations. Business operating efficiency is nothing but the ratio between the input to run a business operation and the output gained from the business. In order to improve the operational efficiencies, it is very important that output or productivity surpasses the input. According to (Vonderembse & White, 2013), “the productivity increases, organizations can do the same work with less effort or can do more work with same effort. Increase in the productivity reduce costs, lower price and provide a basis for competing in a world markets.…show more content…
In each of the collaboration project development stages, members have to cope with incomplete information and rely on input from other participants in the network. Members of project alliance might be competitors in other projects or have different priorities due to other deadlines. Project participants can also be confronted with clients who are directly engaged in the innovation and development process, as each project tends to be critical to the clients business function, performance and profitability. As a consequence of these factors innovation performance is a project alliance that requires high degrees of creativity, flexibility, low formalization, ongoing communication, and project structures that allow feedback loops from later to early…show more content…
Midas must also concentrate on research and development, marketing, engineering and other functional areas that is needed to develop objectives, plans and programs that are consistent with corporate goals in this case it would be Midas’s goal. References: Vonderembse, M.A. & White, G.P. (2013). Operations Management . San Diego, CA: Bridgepoint Education, Inc. McGrath, E.A., (2011). Improving defense Business Operations. The Journal of the American Society of Military Comptroller. 12-15. Retrieved from the ProQuest database. Arrfelt, M., Wiseman, R.M. et. El. (2013). Looking Backward Instead of Forward. Academy of Management Journal. 56 (4), 1081-1103. Retrieved from the ProQuest database. Bouncken, R.B., (2011). Innovation by Operating practices in project alliances. British Journal of Management. (22), 586-608. Retrieved from the ProQuest
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